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SJM Holdings Expands with Hengqin Property Acquisition

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SJM Holdings Expands with Hengqin Property Acquisition

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SJM Holdings ( (HK:0880) ) just unveiled an announcement.

SJM Holdings has announced the acquisition of a property in Hengqin for RMB724.20 million, which will be converted into a 3-star hotel. This strategic move aims to expand SJM’s market reach by attracting budget-conscious travelers, diversifying its portfolio, and increasing revenue streams. The location’s proximity to Macau and access to the Mainland China market presents significant growth potential, while the operation of a 3-star hotel could result in lower operating costs and potential cost synergies.

The most recent analyst rating on (HK:0880) stock is a Sell with a HK$2.85 price target. To see the full list of analyst forecasts on SJM Holdings stock, see the HK:0880 Stock Forecast page.

More about SJM Holdings

SJM Holdings is an investment holding company with operating subsidiaries primarily engaged in the development and operation of casinos and related facilities, as well as hotel, catering, retail, leasing, and related services in Macau.

YTD Price Performance: 14.50%

Average Trading Volume: 19,177,171

Technical Sentiment Signal: Hold

Current Market Cap: HK$21.87B

For an in-depth examination of 0880 stock, go to TipRanks’ Overview page.

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